10 High-Performance Used Cars You Can Actually Afford

So you're looking for a little spice in a used-car upgrade. But the usual suspects in the used market—a Miata, a 350Z, a Honda S2000 or just about any BMW or Mini—are going to eat your wallet alive. Never fear, because we've rounded up the sleepers: The best fun used cars that won't empty your bank account. Some weren't produced in great numbers and are thus hard to find (and some are sleepers because of reliability flaws). But these hot cars could be the perfect buy for someone willing to scour the market for a deal and put up with a few mechanical headaches in exchange for a great driver's car.

Mazda RX-8, 2005 or later

Mazda RX-8, 2005 or later

From $12,000

PROS: For the price of a 2012 Nissan Versa you can have one of the most balanced, poised and enjoyable sports cars of the past two decades. The tiny, 1.3-liter rotary engine revs freely to nine grand, and the steering, suspension and slick six-speed are all perfectly simpatico with the track-day feel of the RX-8. And yet, with two extra half-doors, the rear seats are reasonably useful, especially for kids. That extra cargo space makes the RX-8 an ideal daily driver. Plus, considering this car sells for $33,000 new, you can't beat the discount.

CONS: Early RX-8s melted through a lot of oil (even though Mazda says they corrected that flaw). And despite a messianic zeal that Mazda has had for the rotary for several decades, you don't see the company putting this kind of engine out in huge quantities. There's probably a very good reason for that. Did we mention the 16-mph city rating? That's worse than a lot of SUVs these days.

Chevy Cobalt SS Turbo, 2008-09

Chevy Cobalt SS Turbo, 2008-09

Price: $16,000-$22,000

PROS: The turbo version of the Cobalt was a much better way to get some scoot into this econobox than Chevy's earlier supercharged models. It came on a smaller-displacement 2.0-liter (versus a 2.4-liter) motor so the car was a bit lighter, and with 260 hp it was plenty fast. All told, the turbo got 55 more horsepower than the supercharged model. The sport-tuned suspension also delivered serious cornering grip, and the Cobalt even came with disc rotors sourced from Brembo.

CONS: There just aren't many of these to be found, as coupes (from 2008) or as sedans (from 2009). Plus, its five- rather than six-speed gearbox can lead to a buzzy cockpit in a car that wasn't especially quiet to begin with. Compared to the new Cruze, which feels solid all around, the Cobalt feels second-rate—from the pure fit of the doors to the bolster of the seats. And GM knew it; the carmaker felt there was zero brand equity in the name, and started over for the Cruze.